John Stevens

John Stevens is the former head of European foreign exchange and government bond trading at Morgan Grenfell. In 1999, he and a number of other rebel Conservatives founded the Pro-Euro Conservative party, and contested the European elections for that year

The Conservative party, throughout its history, has been about nothing so much as the possession of power. That is what makes last Thursday's defeat so shattering. Now deprived, apparently for at least a decade, of the cement of the plausible prospect of office, the whole edifice could crumble.